Suppose in a Given Year, GDP Was $7,242 Billion and the GDP

question 86

Multiple Choice

Suppose in a given year, GDP was $7,242 billion and the GDP chain price index for that year is 117.5. Real GDP is:

• A) $5,488 billion.
• B) $6,163 billion.
• C) $6,740 billion.
• D) $7,789 billion.

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Definitions:

Corporate Social Responsibility

The commitment by businesses to behave ethically and contribute to economic development while improving the quality of life of the workforce and their families as well as the local community and society at large.

Shareholders

Individuals or entities that own shares of stock in a corporation, giving them a stake in the company's ownership, profits, and decisions.

Profit

The profit achieved when the revenue from a business activity surpasses all associated expenses, costs, and taxes required for that activity.

Ethical Climate

The moral atmosphere of a business environment, defined by the company's policies, practices, and behaviors that influence ethical decision-making.